Extensions: going, going, gone.

[Black Bart]

I can't believe it, but just counted and have 13 nincompoops who still have not brought their stuff to the office. I've begged, wheedled, called, written a letter, done everything except get on the roof and wave semaphore flags--no response other than "Guess I need to do that" or "I'm workin' on it." One guy''s gonna owe about $10K and will get a stiff penalty, but just can't seem to get the information flowing to me.

I'm giving it one more shot today (Monday morning) and after that, I'm going to stop worrying about the whole thing and just see if the penalties prompt them to do better next time.

As the noted playwright said, "I'm giving my psychiatrist one more year, then I'm going to Lourdes."

[Bees Knees]

I've got three left. Seems to always be the same ones each year. Of course I shouldn't complain. I didn't get my personal return done until September of this year. I seem to be morphing into that same crowd. Maybe that could be a subject of a new book: “The Psychology Behind the Chronic Late Filer, or, A Ten Step Approach to Breaking the Second Extension Habit.”

[Black Bart]

I didn't get my personal return done until September of this year. I seem to be morphing into that same crowd. ”

Hmmm. Good point. That makes 14 nincompoops when I include yours truly. I've gotta
get crackin'.

[S T]

Extensions running out of time

Glad to know that I am not the only one with the extension problem. This year is really unusual, still about 14 extensions, no one is returning phone calls, or upset, or hurry to my door to finish. A couple I have even been paid on. Don't get it!

We gave deadlines of 10/5/05 otherwise we stated we could not guaranty that the returns would be completed and delivered in time for the 10/17/05 mailing.

Guess what, not many takers!!! Oh well, I still have too much to worry about getting done, which might put me at about 7 returns.

Sandy

[John of PA]

Additional, additional extention

So is there anyone filing for an additional extention beyond Oct 15. Is there such a thing? Be careful tax preparers who file after Oct. 15th. You are tecnically in violation of Cir 230 and can loose your ability to file electronic returns. I know of a situation where the IRS sent a warning to a tax pratitioner on this.

[S T]

Extensions and tax practioners

I don't think many of us were talking about filing our own returns late, due to EA status, etc. I think we all know better! Altho some might be filed right at 10/15.

It is these "darned" clients that will file late. All of my files are documented requesting the info, by email or snail mail. I refuse to be blamed for their tardiness.

Another thought, "IF" IRS will now move ahead in the times, and the form 4868 will be an automatic extension to October 15, I am not going to let any of my clients know they have automatic time to 10/15. They then will extend their information gathering and compilation to October 1 instead of August 1. I have enough "tardy's" in the group from August 15 to Oct 15, thank you very much!(There is a draft of the 2005 form 4868 at http://www.irs.gov/pub/irs-dft/d4868.pdf)

Always good to hear from you John of PA

Sandy

[Black Bart]

Auto extension

Anotherr thought, since IRS will now move ahead in the times, and the form 4868 will now be an automatic extension to October 15

Sandy - I was unaware of this (must have slept through that part). Is this official and is it going to effective for the coming year?

Thanks.

[S T]

IRS is finally getting with It!

Bart,

I am probably ahead of the actual passing, but don't you think it will! (Bart, I changed the prior to posting to "IF")

Here is a link to the draft copy http://www.irs.gov/pub/irs-dft/d4868.pdf

Also the excerpt from NAEA

IRS UPDATE

New Form 4868 to Provide Six-Month Filing Extension
According to IRS, the new Form 4868 (Application for Automatic Extension of Time to File U.S. Individual Tax Return), currently in draft form, will give taxpayers an automatic 6-month extension of time to file, eliminate the need to file Form 2688 for a second extension, and save nine million hours (of taxpayer burden, presumably, although E@lert had to divine this from the passive voice in the release).

The Service further stated in its release that provided the necessary regulations are approved, taxpayers will be able to use the new form for TY05. Please note that IRS is welcoming comments during the 30-day period following the release of this draft form (July 27, 2005).

Save 9 million hours time, do you think that counts all of the time us Tax Pros spend, plus paper, so maybe some paper reduction.

California changed years ago and we only have to file an extension if there is a payment due. If refund, no paperwork!!

Sandy

[JG EA]

Form

Thanks for the form reference. I will miss the phone extensions. I thought that was so easy and you had a confirmation number. I know you can file electronically, but I still have to do one sucessfully before I'll feel confident with it.

[S T]

Electronic File form 4868

JG,

This was my first year to file the 4868 electronically. Of course I did not wait until 4/14/ or 4/15 to do them. I think I filed most of them around 4/10.

But, my Tax software and efile handled it without any problems. We pulled acknowledgements almost as fast as we filed them.

But, then of course not the luxury on the additional 2688 2 month extension til October 15. Filed those on paper, and as always receive most after I have already filed the clients returns.

Sof "IF" IRS decides to do the 4868 for an automatic 6 months, what a blessing, once less deadline that we have to worry about, let alone, the paper filing and mailing on time.

Sandy

[Black Bart]

Post 10-15

So is there anyone filing for an additional extention beyond Oct 15. Is there such a thing? .

John/ I don't know of and have never heard of any other extensions after October 15th.

[John of PA]

I thought not

I thought there was no more extension. Just checking as I still have about 13 to do. Thank you Black Bart. Sandy, always nice to read your postings also. by the way, the automatic extension from 4-15 to 10-15 is a done deal and will take effect with the 05 returns, I'am sure I read this in the Tax Action Bulletins (PPC).

[Black Bart]

10-15

No problem. Thanks again to Sandy for the tip and to you for the confirmation of it. I wish there were one. I think I'm going to need one for my ten people left who haven't shown up. Sometimes I think they just run in here to get a free extension and then take their taxes elsewhere, so I think I'll collect for the extensions up front first from now on if I don't know them very well.

[S T]

Less files on extension

Well I managed to finally make some headway today!

Looks like I still have about 12 on extension, 2 of those are already in efile, 2 in process, 1 waiting to print, 2 waiting for info, other 5 no reply.

I might have them done by Friday after all, had my doubts last nite working on the Limited Partnership mess and those dreaded balance sheets.

How's everyone else progressing???

Sandy

[DTS]

Miscounted mine

Sandy,

I thought I only had 4 more to do, but counted the extensions still out, 7 still to do, not including my mother-in-law's and one fellow I don't think will be back in. Three finished and ready to pickup today and one that has been done for some two months, will pickup tomorrow.

Of the seven left to do, 4 are very time comsuming, so I don't know if I can get them done on time and will tell them if and when they call.

They are adults (in children's clothing!) and I refuse to hold their hand anymore. They now know the clock is ticking!

Dennis